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Here are the key principles she espouses, extended to leadership teams, based on my own background and mentoring new entrepreneurs: Learn to trust yourself and your team. Use metrics to support judgment in decisions. Metrics are necessary to acquire knowledge and turn it into action. What gets measured gets done.
Don’t hesitate to call in an experienced advisor or mentor to help. Make sure there are metrics for problem counts, resolution time and revenue impact. Marty Zwilling First published on Entrepreneur.com on 10/23/2015. Very few startup problems are unique. An experienced advisor, board member or investor has seen them all.
Set your own metrics and rewards to map to results. Provide mentoring and self-learning opportunities. Yet every new team member can be assigned an in-house mentor, provided with online seminar opportunities and given special assignments to facilitate new learning. This doesn’t work in a startup.
Bring in expert advisors and mentors to set initial goals, and build recovery plans. Smart entrepreneurs have metrics for assessing their progress against milestones and regularly communicate new insights to the team. Marty Zwilling First published on Entrepreneur.com on 9/23/2015. The market changes faster than your startup.
The founder needs to be a mentor and advisor, as well as a leader. Translating vision into a plan, milestones and metrics is a key responsibility of every entrepreneur. Marty Zwilling First published on Entrepreneur.com on 8/12/2015. This means a founder needs the ability to attract the right people to a team and motivate them.
And then in the late 90’s money crept in, swept in to town by public markets, instant wealth and an absurd sky-rocketing of valuations based on no reasonable metrics. During this era, from 2009–2015, most founders I knew were in it for building great & sustainable companies.
In my perspective as an advisor and mentor to many entrepreneurs, there are a set of basic strategies that can be applied to every startup to dramatically improve the odds of success, no matter what the business domain. Define metrics to keep on track for the journey. Marty Zwilling First published on Entrepreneur.com on 8/5/2015.
Mark Suster (@msuster) July 19, 2015. Every $10 million financing only puts more pressure on the founders to figure out how to hit the metrics to get to the next milestone and every company that raises $25 million puts a ton of pressure on their 10 competitors who haven’t. Advisors / Coaches / Mentors.
That’s why I also put major emphasis on startup traction, milestones achieved and metrics rather than listening again to how great it’s going to be. So before you initiate your next startup, I recommend that you spend some time looking inward, or working with a mentor who will tell you where your strengths lie.
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